Boeing Shares Trade Lower After FAA Monitors Inspections

Shares of Boeing experienced a decline on Thursday following the announcement from the Federal Aviation Administration (FAA) that it was closely monitoring "targeted inspections of 737 MAX airplanes to look for a possible loose bolt in the rudder control system."

The stock saw a decrease of 1.3%, settling at $258.65 on Thursday.

The aircraft manufacturer advised these inspections after an international operator discovered a bolt with a missing nut during routine maintenance in the rudder-control linkage. Additionally, they found another undelivered aircraft with a nut that had not been properly tightened.

Boeing's spokesperson shared, "The issue identified on the particular airplane has been addressed. However, as a precautionary measure, we are recommending that operators inspect their 737 MAX airplanes and inform us of any findings. We have informed the FAA and our customers about the situation and will keep them updated on the progress."

The FAA stated that if further instances of loose or missing hardware are found, they will consider taking additional action.

It is important to note that the 737 MAX jets had previously been grounded for 20 months following two fatal crashes in 2018 and 2019.